Berry Global Group, Inc. (BERY) to Issue Quarterly Dividend of $0.31 on March 17th

Berry Global Group, Inc. (NYSE:BERY) announced a quarterly dividend on Wednesday, January 29th, RTT News reports. Investors of record on Monday, March 3rd will be paid a dividend of 0.31 per share by the industrial products company on Monday, March 17th. This represents a $1.24 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Monday, March 3rd.

Berry Global Group has a dividend payout ratio of 18.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Berry Global Group to earn $6.73 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 18.4%.

Berry Global Group Trading Up 0.6 %

Shares of NYSE:BERY opened at $72.15 on Friday. The stock has a market capitalization of $8.35 billion, a PE ratio of 17.99, a P/E/G ratio of 1.54 and a beta of 1.15. Berry Global Group has a 1 year low of $55.24 and a 1 year high of $73.31. The firm has a fifty day moving average price of $68.24 and a 200 day moving average price of $68.04. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. Berry Global Group’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.22 earnings per share. Analysts expect that Berry Global Group will post 6.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BERY shares. Royal Bank of Canada upped their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. Truist Financial upped their price target on shares of Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday, February 10th. Barclays upped their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. UBS Group upped their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, StockNews.com started coverage on shares of Berry Global Group in a report on Saturday. They set a “buy” rating for the company. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $74.56.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.